Business Model ExplainedI think part of the problem with this company is that they really are ineffective at communicating their business model. They use very technical legal jargon that you are left wondering what they do. Someone at the firm should hire a PR firm that dumbs things down for everyone.
The business model is threefold:
(a) They are building batteries stations that will charge EV cars. These stations will be off the grid, meaning not connected to Hydro power. Their source of recharging will come from solar panels or wind panels or others.
- this solves a big problem because in remote areas people cannot buy EV if there is no charging station and, Hydro takes forever to set up new stations on their main grid line. Plus Hydro has a supply problem because demand for EV is too high they cannot supply it themselves. So Hydro companies are willing to push this technology as it is complementary and helps them.
(b) Many companies cannot afford to have unexpected shutdowns when the power goes off and the Hydro grid is overloaded. So Plug came up with a Hybrid solution which is part battery and part disel or oil charging station, attached to the companies offices. So when either the power goes down or, Hydro will charge a surcharge because demand goes too high, then Plug system comes into play and saves them both money and ensures electricity.
(c) Mining crypto currency Dodgecoin to finance their operations. Given that they are in the battery business, they will use them to mine Dodgecoin and, then recapture the excess electricity and restore it for sale with their batteries for EV or commerical. The idea of Dodgecoin is that it allows up to $ 25 million in additional revenue to enter the coffers of their business annually in order to finance their operations.
The business model is simple enough to understand and it fills up a void which the Hydro companies cannot fill at this moment.
The big buyers of Plug technology will be the Hyrdo companies + commercial companies.
Hope I explained it properly,
Good Luck,